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Pando v. Fernandez, 127 Misc.2d 224 (N.Y. Sup. Ct. 1984), is a New York case that arose when Christopher Pando, a deeply religious minor, sought to impose a constructive trust on the proceeds of a winning $2.8 million (21 annual payments; no cash option) ticket that he purchased with Dasyi Fernandez's money. [1]
However, there’s a catch: the trust must be set up and funded well in advance of any Medicaid application so the transfer doesn’t occur during the Medicaid look-back period. Trusts are ...
A qualified income trust (or QIT) is a special form of trust designed to help people receive long-term care benefits under Medicaid. It is intended for people who make too much money to receive ...
Supplemental needs trust is a US-specific term for a type of special needs trust (an internationally recognized term). [1] Supplemental needs trusts are compliant with provisions of US state and federal law and are designed to provide benefits to, and protect the assets of, individuals with physical, psychiatric, or intellectual disabilities, and still allow such persons to be qualified for ...
A Medicaid asset protection trust (MAPT) can be useful for estate planning if you believe you or your spouse will need long-term care at some point. Transferring assets to this type of trust can ...
He added, “There’s no way any state is going to see it as cost-effective or politically sensible to do that.” [17] However, state Medicaid spokespersons for both New Jersey and Minnesota made contradictory assertions that indicated their states intended to continue the estate recovery of all medical expenses for all Medicaid recipients.
The New York Lottery is the state-operated lottery in the US state of New York that began in 1967. As part of the New York State Gaming Commission , [ 1 ] it provides revenue for public education and is based in Schenectady .
In Massachusetts alone, lottery revenue in fiscal year 2024 totaled over $6.1 billion. So, where does lottery money go? You can feel good knowing that lottery revenue by state funds worthy causes ...